August 31, 2018 Market Update

Posted on Sep 07, 2018 in

Sunshine Coast Detached Listings

Sales down by 23% over the previous year

There are currently 383 detached listings on the Sunshine Coast. This is up from July 31, 2018 when there were 370 detached listings. Detached sales year-to-date ending August 31, 2018: 384 sales, in 2017: 500 sales; in 2016: 771 sales, and in 2015: 487 sales. The current market's hot price range is between $501,000 and $600,000 and $701,000 to $800,000 both with 73 sales. With the current sales pace, this represents approximately an almost eight month supply of listings.

Sunshine Coast Attached Listings

Sales down by 36% from last year

There are currently 63 current attached listings. This is up from July 31, 2018 when there were 54 attached listings. Attached sales this year-to-date ending August 31, 2018: 108 sales; in 2017: 170 sales; in 2016: 170 sales and in 2015: 114 sales. With the current sales pace this represents a four and a half month supply of listings. Attached listings represent strata unit apartments, condos and townhouses.

Sunshine Coast Land Listings

Sales down 23% over previous year

There are currently 200 bare land listings. This is down from July 31, 2018 when there were 201 land listings. Land sales year-to-date ending August 31, 2018: 109 sales; in 2017: 141 sales; in 2016: 313 sales, and in 2015: 97 sales. With the current sales pace this represents approximately a fourteen and a half month supply of listings.

Year-to-Date Detached Sales

$000 to $300,000 with 25 sales

$301,000 to $400,000 with 14 sales

$401,000 to $500,000 with 33 sales

$501,000 to $600,000 with 73 sales

$601,000 to $700,000 with 73 sales

$701,000 to $ 800,000 with 55 sales

$801,000 to $900,000 with 29 sales

$901,000 to $1,000,000 with 18 sales

64 sales over a $1,001,000

What’s Happening in the Market?

August was another slow month for real estate. While the listings are up which leaves buyers with more to choose from, it hasn’t seem to make a difference. The hot price range in the market over the past few months has been $501,000 to $600,000. This month the bar has been raised with the sales in $601,000 to $700,000 being equal to the previously noted at 73 sales each. The price range which had the highest number of sales in August was over $1,001,000 with 14 sales. So where is the market heading? I think we have to sit tight and see where it takes us. There are definitely a lot of potential buyers looking right now.

The Sunshine Coast is still the best neighborhood in the Lower Mainland and the best value, being 20 to 30 percent lower than comparable areas of the Lower Mainland. Why fight the traffic when you can relax aboard a scenic cruise while catching up on rest or work during the 40 minute commute.Call me today with any additional questions, or for a free market evaluation - 604.885.7810 or email: kenan@kenanmackenzie.com

This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy - Listing data updated on January 21, 2019.